The USDJPY faces solid support – Analysis - 16-03-2022

Economies.com
2022-03-16 04:36AM UTC

The USDJPY pair finds solid resistance at 118.40 level, which might force the price to achieve some temporary bearish correction before resuming the main bullish trend.

 

Until now, we still suggest the continuation of the bullish trend that targets 119.55 areas as a next main station, noting that breaking 117.50 will push the price to achieve additional bearish correction that its main targets located at 117.00 followed by 116.55.

The expected trading range for today is between 117.80 support and 119.00 resistance

The expected trend for today: Bullish

Forex and Currency News

EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...
USD/JPY news

Forex

Japan sends the stronger warning after yen crashes to 34-year nadir
2024-03-27 08:50AM UTC
Yen tumbled in European trade on Wednesday against a basket of major rivals, sharpening losses for ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
NZDUSD Price Analysis The NZDUSD price resumes its negative trading to move away from 0.6000$ ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 28-03-2024
2024-03-28 10:19AM UTC
AUDUSD Price Analysis The AUDUSD price achieved initial break to 0.6500$ level and closed the ...
EUR USD Analysis

Forex

The EURUSD price forecast update - 28-03-2024
2024-03-28 10:19AM UTC
EURUSD Trading Analysis The EURUSD price resumes its negative trading to approach our first ...